The purpose of this 8 step credit card guide is to, well…guide you through the process of choosing, using, and managing a credit card responsibly. Through responsible use, we’re strong believers that credit cards can help improve people’s finances. This guide will help prepare you for that journey.
Most of us have heard the horror stories of misusing credit cards. Exorbitant fees, sky-high interest rates, and financial ruin are all there in gruesome detail. On the other side of the coin, financial writers tout the virtues of credit cards; rewards, credit-building, and convenience.
We’re not here to sugar coat the reality of using credit cards – if credit cards are not used responsibly, bad things can and do happen!
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Most people don’t think about their credit score until they need a loan. After applying it’s usually too late to make significant improvements to your score. You’re stuck with the rate offered, or you can walk away from the deal.
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Have you ever been curious what your credit score is? I think most of have wanted to know what their credit score is at one point or another. Whether you’re applying for a mortgage, credit card or car loan, having a good credit score can mean the difference between being approved at a low interest rate and being declined altogether.
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Do you like to hoard your credit card reward points? You’re not alone. Canadians love earning credit card reward points, but we don’t love to spend them. This sentiment is backed up by a survey by PC Financial Mastercard that shows that cardholders are holding onto an average of $832 in loyalty points. In fact, 3 in 10 said that earning loyalty points is more rewarding than actually redeeming them. What!?
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Do you have a friend with the same credit card? Have you ever compared the interest rate you’re both paying on it? It’s not unheard of for you to both be paying different interest rates on your credit card. In this article we’re going to look at how credit card interest rates are determined, what is a good credit card interest rate, and when credit card interest rates matter and don’t.
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The Apple credit card isn’t even out in Canada yet and it’s already generated plenty of buzz north of the border. While there’s a lot of excitement around the Apple Card, not all the hype surrounding it is positive. The Apple Card just launched in the U.S. and already our American friends are pointing out some potential issues.
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Usually credit card stories are about new fees, reduced rewards or higher interest rates. I’m happy to say we have a good news story this time.
Imagine getting a letter in the mail from your credit card company saying that all your credit card debt is forgiven. Does this seem too good to be true? Well, it’s not. It actually happened in Canada. Let’s take a look at this unbelievable story, why it happened and why you shouldn’t rely on your credit card doing the same thing.
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